Storage Auctions
Welcome => Welcome to the Online Storage Auctions Forum => Topic started by: kenoteml on October 18, 2011, 05:08:28 AM
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My honey and I are just starting in this business. We have had plans for over 4 years. I know we missed the obscurity phase of this business, but we are willing to pull up our sleeves and give the ole American Dream a try.
If anyone can offer some solid advice it would be much appreciated. We had attended a few auctions just lately and a couple of years ago just to check out how things work.
While my honey is hot to buy a box truck, I just want to use what we have: 1 ton pickup and small trailer. I really don't want to put all of our eggs in one basket, we did that once and lost all of our working capital for former business. Just the thought of doing that again makes me quite wary of any impulsive moves.
My man is a dreamer and I hope his dream comes true. I am the one who has invested many hours on research and organization. I just hope with his zeal and my common sense we can make a go of this and be a success.
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Welcome aboard.. New to this too and my honey thinks big also.. Starting out slow have already learned a lot with our first auctions last week. Know who or competition is. : ). He owns a local auction company. Best advice is spending a lot of time here. A lot of reading but great information and very helpful people. And good luck : )
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My honey and I are just starting in this business. We have had plans for over 4 years. I know we missed the obscurity phase of this business, but we are willing to pull up our sleeves and give the ole American Dream a try.
If anyone can offer some solid advice it would be much appreciated. We had attended a few auctions just lately and a couple of years ago just to check out how things work.
While my honey is hot to buy a box truck, I just want to use what we have: 1 ton pickup and small trailer. I really don't want to put all of our eggs in one basket, we did that once and lost all of our working capital for former business. Just the thought of doing that again makes me quite wary of any impulsive moves.
My man is a dreamer and I hope his dream comes true. I am the one who has invested many hours on research and organization. I just hope with his zeal and my common sense we can make a go of this and be a success.
One of the most common mistakes of any business venture is growing to quickly or more precisely reinvesting the profits of the business directly into property, supplies, other resources, instead of holding on to that capital and tracking how the highs and lows of the business cycle go. Storage auctions are no different, its real easy to grow yourself into unmanagable overhead costs.
Good Luck!
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Welcome, My whole thought on it is take it real slow. I've been going to auctions for a couple of years and picked up a couple of things that I could use or just liked. As far as storage lockers I have been going to a few over the last 2 months. I already know who a few of the regulars are and getting an idea as to what prices are being paid. I would not rush out and by a box truck at this time. You need to think about where and how you will be selling you stuff. Where will you be storing your stuff until you sell it.
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Come up with a business plan and stick with it.Be patient and you will do fine.Meanwhile get all the info you can.Network, figure out where you can rid of things.Have fun.Good luck!!